Recent Updates — PHOS

First Phosphate Corp. reported a net loss of CAD 11.5 million for the three months ended August 31, 2026, and CAD 19.5 million for the six-month period, driven by increased mining exploration and metallurgy expenses at its Bégin-Lamarche property in Quebec. The company raised approximately CAD 17.7 million through the issuance of flow-through shares and units in June and July 2026, alongside proceeds from warrant and option exercises. Operating cash outflows totaled CAD 21.1 million for the six months, partially offset by financing inflows of CAD 20.9 million. The company also secured government grants totaling over CAD 2.1 million and advanced its feasibility study plans. First Phosphate is a mineral exploration and development company focused on building a vertically integrated supply chain for lithium iron phosphate batteries in North America.

First Phosphate Corp filed an updated NI 43-101 Technical Report for its Bégin-Lamarche phosphate project in Quebec, effective May 1, 2026. The filing reports a 378% increase in Indicated Mineral Resources compared to the initial estimate from September 2024. Measured resources total 6.2 million tonnes at 7.70% P2O5, while Indicated resources stand at 198.5 million tonnes at 6.00% P2O5 and Inferred resources are 89.5 million tonnes at 6.16% P2O5. Metallurgical testing confirms an apatite concentrate grade of 40.4% P2O5 with 88% recovery, qualifying the material for battery-grade phosphoric acid production. The company operates in the mineral exploration and development industry.